1) The balance in retained earnings on January 1, 2013, for Slicker Inc., was $575,000. During the year, the corporation paid cash dividends of $70,000 and distributed a stock dividend of $15,000. In addition, the company determined that it had overstated its depreciation expense in prior years by $50,000. Net income for 2013 was $120,000.

Instructions
Prepare the retained earnings statement for 2013.

2 ) The following items were shown on the balance sheet of Compton Corporation on December 31, 2013:

Stockholders